Corruption has emerged as the single largest constraint preventing Kenya from achieving faster and more inclusive economic growth, according to the latest World Bank Kenya Economic Update, released on 4 November 2026. The report identifies weak governance and corruption as key binding constraints that strain public finances, raise the cost of doing business and limit job creation. “Governance challenges are increasingly limiting Kenya’s prospects for faster and more broadly shared growth, with corruption as the key binding constraint,” the World Bank stated in the report. Qimiao Fan, World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, said corruption costs…
Author: NBM CORRESPONDENT
Supermarket managers across Europe are being warned to upgrade their software systems after hackers caused millions of euros of damage by ordering freezers to defrost. The cyberattack on Monday impacted dozens of supermarkets in seven European countries, and was similar to one that hit up to 700 supermarkets in France last month. The latest incident — which affected supermarkets in Belgium, Estonia, Finland, Luxembourg, the Netherlands, Ireland, Sweden, and the UK — happened in spite of companies working hard since the French attack to upgrade their systems. Stephan Moelans, CEO of Sabcobel, which makes software that controls supermarket freezers, told…
The current global economic situation is confusing. On the one hand it’s characterised by inflation, and food and other critical supply shortages caused by the wars in Ukraine and the Gulf states. On the other, by optimism and economic growth caused by the boom in AI investments. The situation both poses threats and offers opportunities to Africa. On the upside, the International Monetary Fund and the World Bank are predicting that African growth will be around 4.5% in 2026 and 2027. This is higher than the IMF’s estimates of 3.1% global growth in 2026 and 3.4% in 2027. The IMF…
Anthropic, developer of AI chatbot Claude, has filed its prospectus and is expected to go public on Wall Street in November at a valuation of up to US$2 trillion. That would make it the highest-valued initial public offering (IPO) ever, ahead of SpaceX’s US$1.77 trillion listing in June. OpenAI, the maker of ChatGPT, is expected to follow next year. While these AI-powered IPOs are massive, they reflect an ever bigger trend: holding AI risk is becoming unavoidable for most investors. How much of your portfolio depends on how well AI does? If you invest in an S&P 500 index fund,…
Cornelius Kipkosgei konor and Betty Jelangat emerged victorious in the men’s and women’s 10km races at the inaugural Absa City Run Eldoret Edition held on Sunday November 1, 2016. The race, which attracted athletes from across the region, started and finished at Absa Bank’s Eldoret branch, taking competitors through the streets of the City of Champions. Konor clocked 30:27.4 to win the men’s race in a closely contested finish, beating David Korichei, who timed 30:34.8, while Mark Kipkoech settled for third place in 30:36.5. Konor said he struggled during the opening lap but gained confidence towards the final stages after…
The Standard Group PLC has appointed Dr Naim Bilal Yaseen as its Group Chief Executive Officer, effective 1st November 2026, the company announced on 29 October, 2026. The Board of Directors said the appointment followed a competitive recruitment process. The decision supersedes an earlier arrangement under which John Bundotich, Acting Editor-in-Chief, was to assume the acting role from the same date, said Company Secretary Catherine Kawira. Yaseen replaces Chaacha Mwita, who will step down as Group CEO and Executive Director effective 1st November. Mwita was appointed substantive Group CEO on 1st April 2026, having served as Acting CEO from 1st…
Kenya seeks to boost climate resilience in the farming sector with a $2.08 million grant aimed at providing farmers and agribusinesses with climate information. The grant falls under the Climate Smart Agribusiness Partnerships for Resilience (CSAPR) initiative and aims to strengthen Climate Information Systems across the agricultural value chain. It is funded by the Bill & Melinda Gates Foundation and administered by the International Fund for Agricultural Development (IFAD). A deal has been signed by National Treasury Cabinet Secretary John Mbadi and IFAD Country Director for Kenya, Matteo Marchisio. The initiative seeks to close the gap between the availability of…
Health authorities in the Democratic Republic of the Congo and international partners are intensifying efforts to contain the current Ebola outbreak, as confirmed cases have surpassed 10,000. Government data released on Tuesday put the number of confirmed Ebola cases in the DR Congo at 10,060, with 4,887 deaths. The outbreak has become the largest and deadliest ever recorded in the country and the second-largest globally, after the 2014-16 West Africa epidemic. More than 80 percent of new Ebola cases are being detected among people who were not previously listed as contacts, highlighting gaps in surveillance and the difficulty of tracing…
Two Kenyans working as cabin crew for flydubai have been recognised with one of the United Arab Emirates’ top state honours for helping to save passengers after a co-pilot turned on his captain mid-flight. David Kimotho and John Muchina were among the crew of flight FZ1073 decorated with the First Class Order of Zayed II on Tuesday, October 27, 2026, alongside Captain Smit Machchhar. The award was granted by UAE President Sheikh Mohamed bin Zayed Al Nahyan and presented by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. The President later met the decorated crew at a…
Naivas Supermarket has partnered with the National Olympic Committee of Kenya (NOC-K) to support Team Kenya’s young athletes as they prepare for the Dakar Youth Olympic Games, reaffirming a shared commitment to nurturing young talent, promoting athlete welfare and investing in the future of Kenyan sports. The partnership underscores the importance of providing young athletes with the support and opportunities they need to develop their potential, compete on the international stage and inspire the next generation through sporting excellence. Speaking during the engagement, Naivas Supermarket Chief Commercial Officer, Jorsen Patten, said the partnership reflects the retailer’s commitment to supporting initiatives…
